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I don't understand the connection. We have record Federal REVENUE now. It isn't a revenue problem, it is a SPENDING problem. Neither party wants to address it as they love a bigger, and bigger government that gives them more wealth and power.
AGain -- you are misinformed or misunderstand. (EDIT -- -I don't mean to target you specifically -- but chose to use your post to represent all the Trump fans who are making the same statement. Claiming that liberals/Trump critics are saying we are IN a recession, celebrating a recession, hoping for doom and gloom . Interesting instead of discussing the issue with a substantive argument using the indicators, history, theories, etc......to support the claim that a recession won't happen, you and others choose to just make a sweeping generalization of anyone expressing concern)
NOBODY has claimed we are in a recession.
In the usual course of covering the economy, some financial advisers have expressed concerns with some of the indicators that suggest the economy is slowing. Given we have been on this recovery pace for 10 years (not just two and a half years like some misinformed folks think) it is reasonable to be concerned when the recovery will end. It will not go on for ever -- it won't. Historically manufacturing slow downs -- even with an economy that seems to be good, are a forecaster of things slowing down Manufacturing has been stalled for months......
While the economy achieved growth under Obama, conservatives were quick to claim it wasn't real, not happening -- but it was. This is not the 31st month of job growth -- is the 108 month.
Now with a decent economy, showing some slowing down signs, conservatives are claiming a great growing economy.
It's good -- it is - nobody is saying a recession is happening NOW..
BUT there are trouble areas --- manufacturing is one of them. And we have to wonder how much of Trump's chaotic approach to negotiations is hurting the manufacturing sectors. Not the fact Trump is renegotiating trade deals. Those should be revisited in this changing world. Both Trump & Clinton campaigned on renegotiating trade deals with the goal to protect American interests. Trump's goals aren't the problem, it is his methods. They have not been shown to be any ore effective than standard negotiating....the new NAFTA does not overturn & completely remove the old NAFTA. It tweaks it -- all three countries got what they wanted. Trump's approach was to create chaos and mayhem & a lack of trust to achieve a results that is good --- not life changing -- and probably what any other PResident would have achieved but in a more thoughtful, practical, effective, timely way.
And now China --- does slapping on new tariffs every six months really move the negotiations further along. Sure China's economy is slowing but it may have been inclined to slow down anyways....AND.....the goal to destroy the economy of someone you want to import more of your stuff seems counter productive.
I'll be honest -- trade policies was not something I was inherently worried about with Trump. I was naive to think he would have a better understanding of international trade policies and how they connect with the USA. He doesn't seem to get it. It is a complex process and a measured approach realizing the balancing act of protecting the USA and working with other countries requires a give and take, a finesse. Trump doesn't negotiate that way. In a private corporation, Trump's techniques or approach may be effective.....(well sometimes it isn't cough cough -- bankruptcies).....but it is different on the public, global stage. And Trump is too set in his way, naive, ignorant to change his tactics. Having said that, there are people behind the scenes, actually sitting at the table that are conducting the negotiations in earnest and I have a naive belief they are trying to do their best.
True. Politics aside, we are in the 10th inning of the expansion. Investors get nervous. Corporations become cautious.
Yup -- I don't believe a slowing of the economy is all on Trump except for the trade issues.
Now we have seen Trump change his tactics when the economic indicators start to show signs of a slowing economy. He did postpone tariffs that were going to hit in September.
So maybe Trump will change his approach if there are more indicators that the economy is slowing.
It's not all on him -- but there are some things he is influencing.
I don't understand the connection. We have record Federal REVENUE now. It isn't a revenue problem, it is a SPENDING problem. Neither party wants to address it as they love a bigger, and bigger government that gives them more wealth and power.
This is a really good point.
It's great that there is all this revenue but why aren't we seeing any real benefits from it.
The unemployment rate you talk about doesn't count those who work part time because of economic reasons. People are working multiple jobs to make ends meet.
The labor participation rate, while marginally higher for those ages 24-55 compared to a decade ago, is lower today overall than it was during and prior to the great recession.
The reality is, this is the weakest economic recovery in modern history. The Trump economy is the same as the Obama economy. We have excessive consumer, corporate, and public debt, stagnant wages, too much consumption, and not enough savings and production.
The reality is, this is the weakest economic recovery in modern history. The Trump economy is the same as the Obama economy. We have excessive consumer, corporate, and public debt, stagnant wages, too much consumption, and not enough savings and production.
Bingo.
George W. Bush, despite his faults, was a much better jobs/economy president than Trump and Obama combined.
Interesting anecdote that does not mean anything but some will find interesting.
I sell appliances as a 2nd job. A local grocery store group is building a new store near me. One of the lower managers for the group of stores is one of my regulars who I sold a washer to yesterday.
They may not be able to open on time because they cannot find even halfway decent staff that can pass a drug test.
The unemployment rate you talk about doesn't count those who work part time because of economic reasons. People are working multiple jobs to make ends meet.
The labor participation rate, while marginally higher for those ages 24-55 compared to a decade ago, is lower today overall than it was during and prior to the great recession.
The reality is, this is the weakest economic recovery in modern history. The Trump economy is the same as the Obama economy. We have excessive consumer, corporate, and public debt, stagnant wages, too much consumption, and not enough savings and production.
Spot on. The low interest rates that have gone on for more than a decade now mostly benefit those at the top. The bottom half still have 20% credit card interest rates and sky high payday / auto title interest rates. Even the middle class has taken on too much debt with high housing prices. They think they are winning because mortgage interest rates are low but they are dependent on prices continuing to rise. A housing slump would wipe out most f not all of their assets.
Only those near the top benefit. Low interest rates fuel the stock market and real estate. When they need to borrow for business expansion or for investments the do at very low interest rates.
On top of all of this is the staggering increase in the cost of living in most urban areas. Somehow none of this is calculated into the inflation rate which is weighted heavily on the cost of refrigerators, TV's and food prices which do not paint the whole picture.
But the politicos on the left praise Obama and how he handled the previous recession and the Trumpers praise Trump on not crashing the economy so here we are. Neither side is responsible for the mess we have now but there is endless adulation for all.
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